6.0. SR 08-12-2002 - Laserfiche WebLink

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Budget lg/orksession August 12, 2002 6 revenues. The miscellaneous line item includes $10,000 for the arts, $10,000 for the Boys & Gifts Club, and $8,000 for the Community Recreation repayment to Community Education. The concession program expenditures are offset by revenues. · Seniors - The increase is due to additional hours for part time help. · Transfers - These are down slightly due to budget constraints. Total general revenue fund expenditures are projected at $9,933,300. This is a $717,800 or 10% increase. The gap between requested expenditures and projected revenues is $362,100. 2003 Supplemental Budgets Attachments - Information on Library, Ice Arena, and Safety budgets Most of the supplemental budgets are very straightforward. The one that needs some discussion is the Ice Arena budget. General fund assistance to this budget is proposed in the amount of $28,600. This amount matches the non-capital outlay shortage from 2001. Even with this assistance the budget still shows a deficit of almost $30,000 but history shows that this amount should be less and may even entirely disappear based on "conservative" budget projections. Over the last three years the annual shortage in this budget (excluding capital outlay and after the building debt was paid) was between $14,000 and $28,000. The equipment certificate and equipment reserve amounts were previously discussed. The library budget shows very little change from previous years. The special assessment amount and the surface water management figures are in the tax levy resolution. At a later date, the landfill, EDA, HRA, and the enterprise funds budgets will be discussed. 2003 Tax Levy Attachments - Preliminary levy for 2003 - Adopted 2002 tax levy - Tax and leW summary/history from Finance Department Annual Report The preliminary levy sample page shows the levy limit maximum going into the general fund. Covered under the levy limit amount is the general fund tax levy, the street replacement program levy, the library levy, and the surface water management levy. All other tax levy items are outside of the levy limit. Most of these levies outside of levy limit are for building and equipment. The big impact on the 2003 tax levy is the new building levy. At the bottom of this preliminary tax levy page are some sample tax rates based on increases in net tax capacity (NTC). We have not received this NTC information from the county but it is expected before the maximum levy needs to be certified to the county in mid- September. This page shows that if NTC increases by five percent, then the only increase in